The Globe and Mail reports in its Friday, July 21, edition that Canaccord's Aravinda Galappatthige has reaffirmed his "hold" call for BCE. The Globe's David Leeder writes that Mr. Galappatthige gave his share target a $2 haircut to $61. Analysts on average target the shares at $64.93. The Globe says Mr. Galappatthige expects a "resilient" second quarter from BCE, featuring low-single-digit growth in revenue and earnings before interest, taxes, depreciation and amortization. He says in a note: "Wireless should continue to post strong, albeit moderating results, while wireline should be in the positive territory. Media, on the other hand, is expected to remain challenged, impacted by soft ad revenue environment and higher programming costs. We continue to maintain 'hold' on Bell owing to 1) challenged B2B trends near term (B2B accounts for 40 per cent of the wireline segment), 2) media headwinds (particularly on the advertising front) given the uncertain macro conditions, and 3) Bell's 'bond-proxy' status in a volatile interest rate environment." Ahead of BCE's Aug. 3 earnings release, Mr. Galappatthige is projecting revenue growth of 3.1 per cent to $6.04-billion, narrowly above the Street's $6.03-billion forecast.